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HomeMy Public PortalAbout07420 O R D I N A N C E NO. 7420 REPEALED BY 10928- 3/8/01 AN ORDINANCE, repealing Ordinance No. 4606, as adopted December 30, 1981, and enacting a new ordinance in lieu thereof, providing generally for the levying of special benefit assessments against the real property benefited by the construction of sewer improvements to be paid for by said special benefit assessments and the issuance of Special Tax Bills, establishing the terms, conditions and provisions applicable thereto, and authorizing and directing the adoption of a standard Special Tax Bill form. WHEREAS, The Metropolitan St. Louis Sewer District was created pursuant to a Plan adopted by the voters of the City of St. Louis and of St. Louis County, Missouri, at a special election held on Tuesday, the 9th day of February, 1954, all as provided and authorized by Sections 30(a) and 30(b) of Article VI of the Constitution of the State of Missouri; and WHEREAS, pursuant to Article 9 of said Plan, The Metropolitan St. Louis Sewer District will from time to time proceed to make sewer improvements in special benefit subdistricts to be paid for by the levying of special benefit assessments against the real property benefited by the construction of such improvements, and will from time to time issue Special Tax Bills in payment for such improvements, and the Board of Trustees finds it desirable to provide generally therefor, NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT Section One. Ordinance No. 4606, as adopted December 30, 1981, is hereby repealed. Section Two. From time to time, the District shall by ordinance direct the making of sewer improvements in special benefit subdistricts to be paid for by the levying of special benefit assessments against the real property benefited by the construction of such improvements and shall by ordinance direct the issuance of Special Tax Bills as evidence of said special benefit assessments, all in accordance with Article 9 of the Plan of the District. Section Three. Special Tax Bills shall become a lien upon the property charged therewith upon filing with the Recorder of Deeds of the City of St. Louis or the Recorder of Deeds of St. Louis County, as the case may be; provided, however, there shall be no priority between Special Tax Bills issued under the Plan, regardless of the date of such bills. Section Four. Special Tax Bills shall be executed by the signature of the Director of Finance under the seal of The Metropolitan St. Louis Sewer District, and shall be attested by the signature of the Secretary-Treasurer. Said Bills shall be registered in the offices of the Director of Finance and the Secretary-Treasurer, and shall be filed with the Recorder of Deeds of the City of St. Louis or of St. Louis County, Missouri, as the 3 case may be, prior to delivery to the person entitled thereto. Said Bills shall be payable to the party entitled thereto at the office of the Secretary-Treasurer, or at some bank or trust company in the City or in the County of St. Louis, at the option of the party so entitled, and shall show on their face that the real property charged thereby has been assessed ratably by area. Section Five. Except as provided in Section Five, below, Special Tax Bills shall be due on the date of issue, and shall not bear interest if paid within thirty (30) days after the date of issue. If not paid within thirty (30) days after the date of issue, such Special Tax Bills shall bear interest from the date of issue equal to the average of the fixed interest rates charged by three financial institutions located within the District for a five year term, secured home improvement installment loan as of the date of the adoption of the District's resolution determining that said improvements are necessary in the interest of public health. Section Six. When requested by the property owner, Special Tax Bills may be made payable in equal annual installments, not exceeding six (6). The first annual installment shall be due on the date of issue, and subsequent annual installments shall become due on each succeeding anniversary of the date of issue. Each installment shall bear interest from the date of issue to the date the installment is due equal to the average of the fixed interest rates charged by three financial institutions located 4 within the District for a five year term, secured home improvement installment loan as of the date of the adoption of the District's resolution determining that said improvements are necessary in the interest of public health. In the event of default in the payment when due of any annual installment, all unpaid installments shall become immediately due and payable at the election of the owner of the Special Tax Bill so payable in installments, and may be enforced by suit or other proceedings in any court of competent jurisdiction. Such installments and any interest remaining due and unpaid shall bear interest from the day on which default in the payment of any installment occurs at the rate equal to the average of the fixed interest rates charged by three financial institutions located within the District for a five year term, secured home improvement installment loan as of the date of the adoption of the District's resolution determining that said improvements are necessary in the interest of public health. Section Seven. The installment interest rate established by this Ordinance shall not apply to any improvements which were determined to be necessary in the interest of public health by a District resolution adopted prior to the effective date hereof. Section Eight. The Executive Director is hereby authorized and directed to have prepared and to adopt a standard Special Tax Bill form consistent with the provisions hereof. 5 The foregoing Ordinance was adopted April 13, 1988.